New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-08-02
rA,IuREs AND RUMORs IN WALL STREET

Gould AND HENRY FORCED TO AsSlGN-ONCHh'
rAINry ABOUT MR.. IvEss MOVEMENTS.
The expected failure of Gould & Henry small
brokerage firm at No. % New-st.. was announced
aeon after the opening of business at the Stock FIX
change Yesterday The early rally which was then IN
progress was not checked by the announcement, Tor
the simple reasons that the failure had ceen an
tcipatei and the firm had outstanding contracts on
the floor. Tue principal, and perhaps only, customer
Of the firm was Harry" Powers, whose privileges
the nrm Endorsed for a snail commission. Mr. Powers
LETT all Street about noon on Friday Tor tue express
purpose OF securing financial aid. lie has not been
seep there since and his absence. presumably on az
sount of his failure TO get money from wealthy uncle,
.ausea the suspens,on of his brokerage firm. Mr..
Henry the JUNIOR PARTNER went 10 Asbury Park Oh
Saturday afternoon TO Mr.. rowers who is SPEND
ing the there, but bis visit was fruitiess lie
,aid after the failure had been announced:
We are waiting to hear IRON Mr. Powers we
40 not owe an thing outside OF our obligations by
ndorsing his privileges, and 1t no would settle tnose
we could resume business at once. diu not see
Pow ers GU Saturday, and have not seen him since,
but understand he in the city to-day. Ills
losses have been greatly exaggerated, and nc tue
moment do not think they can amount 10 over
10000 That is small sum ana presume 'n hs
settled at low figure"
There we're some transactions under the rule en- ac,
count of these privileges made by brokers to establish
their claim against tho ind0rsers. Gonia ~ henry
In the alter loon w. f. ID. Nyse, another smail
broker was closed out by the same process OUT the
ops ration had no effect the general course 81 the
market. Firms which are supposed 10 he nl1eu up
with the affairs OF Henry 5. Ives 4 CO. III eonse-
quence of the famous Baltimore anu ONO ue',, are
and Saturday and to b. able now to weather the
storm. Thor ultimate fate depends, 1t Is Supposed,
upon the success of Henry s. Ives in his present
Western trip lie has gone to Cincinnati, osensibly
to attend meeting of the Cine. Dnati, Hamilton and
Dayton Railroad Company which takes place. next
IF g SpS preferred sock or
rather part OF it which has not been issued ABOUT
S7,O00,00J. Ii Is limited however, that Mr. Ives
started little ahead of time tor the purpose OF secur
inc assent 10 issue of bonds in place OF the pre-
ftrred stock 1t be should succeed in accomplishing
this object. and especially II ne should negotiate ne
new bonds in Cincpnatl. he will relieve good mauy
lenders on Cincinnati, hamilton and Dayton stock IN
this cit, IRON the snxiety that now Expresses .hem
alter the meeting but in OF his complete success
lie might not wait tor the formal ratification OF h's
plan. Al the oce OF the firm IL was said yesterday
that George H. Stayner the moneyed man oil the
concern. was too busy to talk about its AFFAIRS
The statement was published yesterday that Jay
Gould would return at once from his yachting cruise
and be in the cit, early in the morning The state
me at was false for Mr. Gould did not return ana so
far az could be learned had no intention OF changing
his plans. George j. Gould said 10 the afternoon:
sMy father was at Newport this morning, aud
should say that at This moment he was De-
tween Newport and Vineyard Haven do not expect
him hack before next week, and think before he
returns he will 60 as far East Bar Earbor. He had
no very definite plans when he lie here, but know
of no reason WIN he should come back 80 soon.
The course o. prices at the Stock Exchange
followed the uncertainty caused by the events ana
rumors. The volume OF business was larger than ON
any previous day since the recent stagnaton was
broken toward the end OF last week. The opening
was Irregular but after q brief hesitation smart
rally was started which the failure OF Gould Heary
did not interrupt. The improvement was not long
m.intained however and it was not until afternoon
that a substantial recovery was fully der way.
The NOV ement was uniform and the closing was
not al the very highest points, but the tendency
seemed to be toward better prices. The Street vel
coined the rally with sigh OF relief and was not par
ticuat in nquiring about the eauses The tact that
prices substantially higher than at tho close ON
was rumored. indeed, that some OF the smaller bear
leaders had decided after serious conclave that
further decline prices might to be disastrous
IL 10 uncertain how far this decision had any effect
on the cour % OF the market hut naturally the par
ticipants entertained the opinion that the rally was
due wholly to their efforts